Client was given a retirement package to retire before age 65.

The Client received a payout in early January 2014, and purchased an RRSP, which is approx $20,000 - of which he received a RRSP receipt marked 1st 60 days period 2014 Year. I must report the RRSP on his 2013 return, but the whole value is beyond his 2013 RRSP limit. Is it possible, he has a special exception because the money relates to his early retirement package and he will not be faced with the 1% monthly penalty for excess contributions to his RRSP


if Retirement package is reported on Box 66 of T4, "eligible retiring allowance" this will not affect RRSP deduction room,so no tax . in ProFile amount will transfer to RRSP worksheet under "RRSP/PRPP Summary" second line
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